Vanderbilt University Invests $674,000 in CubeSmart (NYSE:CUBE)

Vanderbilt University acquired a new position in CubeSmart (NYSE:CUBE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,791 shares of the real estate investment trust's stock, valued at approximately $674,000.

Several other hedge funds have also recently made changes to their positions in CUBE. Norges Bank bought a new position in shares of CubeSmart in the 4th quarter worth about $408,064,000. Capital World Investors raised its position in shares of CubeSmart by 184.5% in the 4th quarter. Capital World Investors now owns 2,944,248 shares of the real estate investment trust's stock worth $126,161,000 after acquiring an additional 1,909,496 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of CubeSmart by 219.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,574,641 shares of the real estate investment trust's stock worth $110,323,000 after acquiring an additional 1,768,626 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of CubeSmart by 27.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,727,155 shares of the real estate investment trust's stock worth $288,259,000 after acquiring an additional 1,464,331 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of CubeSmart by 46.6% in the 4th quarter. Northern Trust Corp now owns 3,758,863 shares of the real estate investment trust's stock worth $161,067,000 after acquiring an additional 1,195,246 shares in the last quarter. 97.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CUBE. Truist Financial lifted their price objective on CubeSmart from $47.00 to $48.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Bank of America raised CubeSmart from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $44.00 to $50.00 in a research report on Tuesday, May 13th. KeyCorp raised CubeSmart from a "sector weight" rating to an "overweight" rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Mizuho boosted their target price on CubeSmart from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, Scotiabank boosted their target price on CubeSmart from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $47.47.

CubeSmart Stock Up 1.3%

CUBE stock traded up $0.56 during mid-day trading on Monday, reaching $42.93. 1,777,096 shares of the company traded hands, compared to its average volume of 1,529,980. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 7.79 and a beta of 0.98. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.17. CubeSmart has a fifty-two week low of $34.24 and a fifty-two week high of $55.14. The firm's 50 day moving average price is $41.85 and its 200 day moving average price is $41.84.

CubeSmart (NYSE:CUBE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $273.04 million during the quarter, compared to the consensus estimate of $268.16 million. CubeSmart had a return on equity of 13.57% and a net margin of 37.05%. The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, equities research analysts predict that CubeSmart will post 2.64 EPS for the current fiscal year.

CubeSmart Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.84%. CubeSmart's dividend payout ratio (DPR) is currently 123.08%.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.